Used machinery is routinely funded, and a panel of more than 60 lenders means a used asset can be put to funders whose criteria fit rather than to a single lender with a fixed policy. Whether a particular machine can be funded depends on the lender’s view of that asset and that customer.
Age, hours, make, condition, service history and how readily the machine could be resold all feed into a lender’s thinking, as does the price against what the market says the asset is worth. Some funders set upper age limits or shorten the term on older assets so the agreement does not outlast the machine’s useful life. Others are more flexible on well-maintained kit with a strong residual.
Points that help a used proposal:
- an accurate description of the machine, including hours or mileage and serial or registration details
- realistic pricing supported by evidence
- a clear picture of condition and any refurbishment carried out
No approval can be promised. Lending decisions are the lender’s. The asset being used rather than new makes no difference to how your own introduction is treated — that turns on who the customer is and how much you do. This is general information, not legal or compliance advice, and your position depends on your customer mix.